Mich. regulators order utility to pay $86M refund

State regulators have ordered Consumers Energy to refund $86 million to customers for failing to put money for decommissioning a northern Michigan nuclear plant into a designated trust fund.

The Michigan Public Service Commission on Monday ordered the Jackson-based utility to create a plan within 30 days to credit 1.8 million electric customers based on power usage within 18 months. The commission said Consumers used the money for general purposes rather than depositing it into the fund for the Big Rock Point Power Nuclear Plant.

Consumers spokesman Jeff Holyfield said the utility just received the order and declined comment. The order says the utility maintains it properly managed the process.

The plant near Charlevoix closed in 1997. Dismantling and site restoration was completed in 2007.